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Question of the Week - Quantitative Methods

AdaptPrepAdaptPrep Des Moines, IA, USAPosts: 211 Sr Associate
edited July 2015 in Level 1 Questions
Which of the following methods can be used to overcome the data mining bias?

Question of the Week - Quantitative Methods 33 votes

Test hundreds of variables for statistical significance
27%
YannickTnilsenp06abellochsdoCFAtcdublinCh.MinistryntmniallTimTom2015Richie321 9 votes
Use data sets created by previous research
9%
AcefromspaceSaikiran Rajagopalferocious 3 votes
Test the predictions on new data
63%
LagartaLeChiffreAdaptPrepwm247rsparksmfinawesomeStuj79ThomasWCFAI_wont_stop_meArsenalFansadkiamineImGoingAllTheWayaji123Ssophiacolewills07samyakjaroliakshaythatteecoffey123TheClawPahtsan 21 votes

Comments

  • AdaptPrepAdaptPrep Des Moines, IA, USAPosts: 211 Sr Associate
    Test the predictions on new data

    If you test 100 variables for predictors with 95% confidence, you would expect 5 of those variables to appear as predictors even if there is no relationship with the data. The problem, not the solution, is that hundreds of variables are being tested for statistical significance. Another data mining issue (intergenerational data mining) can come about because a researcher uses another researcher's data. A solution to both problems involves testing the conclusions on a new data set.

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